Japan: Services Producer Price Index (YoY) - All Items

Macro

2026-05-27

Description

The Japan Services Producer Price Index (SPPI) is released by the Bank of Japan (BOJ) and measures the changes in prices across various services within Japan's service sector. This index covers all items within the service industry, including finance, real estate, transportation, and information services, making it a key indicator for assessing inflationary pressures and the economic condition of the service sector.

An increase in the Services Producer Price Index typically indicates rising prices in the service industry, which may result from higher labor costs, increased demand, or other rising production costs. Conversely, a decrease in this index may suggest declining service prices, potentially due to reduced demand or lower labor costs.

This data is released monthly, providing insights into the price changes within Japan's service sector for the previous month.

Published by
Bank of Japan (Choice)
Frequency
Monthly
Next Update
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AI Data Insight

Japan's Corporate Services Price Index (SPPI) for the second quarter (April) of 2026 reported a year-on-year growth rate of 3.0%, a slight retreat from the previous 3.1%, but remains firmly in historically high territory. A tight labor market is driving companies to pass on wage costs to service prices. This wage-driven benign inflation is expected to serve as a crucial backing for subsequent interest rate hikes by the Bank of Japan (BOJ).

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AI Data Insight

Japan's Corporate Services Price Index (SPPI) for the second quarter (April) of 2026 reported a year-on-year growth rate of 3.0%, a slight retreat from the previous 3.1%, but remains firmly in historically high territory. A tight labor market is driving companies to pass on wage costs to service prices. This wage-driven benign inflation is expected to serve as a crucial backing for subsequent interest rate hikes by the Bank of Japan (BOJ).

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Description

The Japan Services Producer Price Index (SPPI) is released by the Bank of Japan (BOJ) and measures the changes in prices across various services within Japan's service sector. This index covers all items within the service industry, including finance, real estate, transportation, and information services, making it a key indicator for assessing inflationary pressures and the economic condition of the service sector.

An increase in the Services Producer Price Index typically indicates rising prices in the service industry, which may result from higher labor costs, increased demand, or other rising production costs. Conversely, a decrease in this index may suggest declining service prices, potentially due to reduced demand or lower labor costs.

This data is released monthly, providing insights into the price changes within Japan's service sector for the previous month.

Published by
Bank of Japan (Choice)
Frequency
Monthly
Next Update
Hashtags